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Anker, a Seattle and Shenzhen-based consumer electronics company, is releasing a new line of speakers and headphones under its Soundcore brand. The new audio devices have received positive reviews. IDG Capital led Anker's financing round in 2016.
Hong Kong-listed Tencent has invested $15 million in Epic Games, a Cary, North Carolina-based video game and software company. Tencent said it also intends to bring the firm's lead game, Fortnite, to China. Tencent has also recently invested in another game company, Unisoft. IDG Capital was an early investor in Tencent. The company went public in 2004.
Nasdaq-listed Chinese luxury e-tailer Secoo recently formed a partnership with China's Caissa Travel to list each other's products on their respective websites. As part of the deal, Secoo will also acquire Beijing Yuri, a separate Caissa Travel services subsidiary, for an undisclosed sum. IDG Capital invested in Secoo's Series A, B and C funding rounds.
IDG Capital this week joined PatPat's $47.8 million Series C funding round. The Mountain View, California-based e-retailer sells Chinese-manufactured baby products worldwide. PatPat says the funding round will be used to enhance PatPat's global branding efforts and also improve its global supply chain. In 2014 IDG Capital led the company's Series A round.
Beijing-based credit service and financial customer management startup 100Credit raised $159 million during a recent Series C funding round. The fintech firm intends to use the investment to recruit talent, upgrade artificial-intelligence finance capabilities and develop new financial risk management products. Founded in 2014, 100Credit currently serves more than 3,500 financial institutions in China. The firm estimates that it processes more than 3 million credit history queries per day. IDG Capital joined 100Credit's Series A round in 2014.
Coinbase, a cryptocurrency wallet and exchange, hired Alesia Haas-formerly of OneWest Bank, Merrill Lynch and General Electric-as its new Chief Financial Officer. Coinbase is currently valued at $1.6 billion. IDG Capital, an angel investor in the firm, also has several other cryptocurrency companies in its portfolio, including Ripple and Circle.
IDG Capital has joined Crunchbase's list of the Top Ten most active global investors during Q1 2018. From January to March, IDG Capital led or joined 14 early-stage funding rounds worldwide and nine late-stage deals.
Coinbase, based in San Francisco, recently acquired earn.com, a blockchain-based startup offering paid email services. A global leader in cryptocurrency and blockchain, Coinbase has also appointed earn.com's Chief Executive Officer Balaji Srinivasan as Chief Technology Officer. IDG Capital was an angel investor in Coinbase, which was founded in 2011.
IDG Capital recently led a Series A funding round for DEEP Informatics, a Hangzhou-based company using artificial intelligence to analyze medical images. The funding round will support R&D efforts and help the company expand globally. DEEP Informatics can analyze over 1 Gigabyte of medical images in under 10 seconds. The firm currently partners with more than 50 3A-tiered hospitals in China and scores of institutions in the U.S.
SenseTime, a Hong Kong-based artificial intelligence company, is now valued at $3 billion. The firm provides facial recognition to more than 400 companies inside China. Customers use SenseTime technology for surveillance, security, facial login, photo sorting and editing, and real-time customer analysis. IDG Capital led SenseTime's Series A funding round and also joined the company's Series B round in 2017.
Hospitals in Shenzhen are now conducting clinical tests using Tencent's artificial intelligence-powered diagnosis system to identify cancers. The Tencent system can sort medical images and help doctors diagnose the probability of cancer with up to 90 percent accuracy. Tencent went public in Hong Kong in 2004. IDG Capital was an early investor.
IDG-backed Coinbase has acquired Cipher Browser, a decentralized app browser and wallet for the Ethereum blockchain. Coinbase said it would use the acquisition to help improve a similar product, Toshi. Cipher Browser founder Peter Kim will lead the joint engineering team for the new Cipher-Toshi product line. Coinbase, with over 10 million users, has processed more than $50 billion in cryptocurrency trades.
Online video streaming service iQiyi and anime-themed online entertainment platform Bilibili are both now listed on Nasdaq. IQiyi raised $2.25 billion from its IPO, making it the second largest listing on Nasdaq by a Chinese company in over a decade. IDG Capital joined iQiyi’s $1.53 billion financing round in 2017 and led Bilibili’s Series A funding round in 2014.
Meitu, a Hong Kong-listed photo enhancement app with more than 455 million users, plans to turn itself into a photo-social networking platform, with plans to expand into games and online literature. Also, the company recently launched an artificial intelligence-based skin detection module for its e-commerce platform MeituBeauty, which can recommend cosmetic products for users based on skin scans. IDG Capital joined Meitu’s $350 million Series C funding round in 2014.
Santander Bank recently launched a foreign exchange service powered by blockchain firm Ripple. The new service will operate in Spain, the U.K., Brazil and Poland. Ripple previously formed a partnership with American Express to enable blockchain-powered cross-border payments. IDG Capital led a $28 million Series A funding round for Ripple in 2015. Based in Menlo Park, California, Ripple currently partners with more than 100 financial institutions worldwide.
Hong Kong-listed gaming hardware manufacturer Razer had launched a series of digital game distribution platforms in the U.S., the U.K., Germany, France and Singapore. The new digital platforms can provide users with both local online content and local customer support. IDG Capital joined Razer’s Series B funding round in 2011.